Alexander Williams
Thoughts on portfolio loan…..risky or smart?
Hello BP, I’m currently working on my first portfolio loan and have some questions. Here’s the scenario;I’m doing a cash out refinance on two properties I currently own and purchasing two new properties all in one por...
Derek Smith
closing costs
Are closing costs based on the purchase price? Or simply the rates at which each fee costs? Because 5% estimated closing costs on 150k property versus a 300k property differs substantially.
Christian Carson
Buying property while overseas
It turns out that I'll be in China for the scheduled closing date of one of my acquisitions (the trip came after the scheduling--just bad timing!)
I have a choice: pay the US consulate $50 *per notarial seal*...
Hanbin Y.
Newbie lesson learned: now how to fix it?
Hello BPers, I recently closed my first 5-unit apartment in Cleveland. I did not realize until today (when I called the power company) that the previous owner has owed a few hundred dollars of electric bill before clo...
Bob P.
Rent credits on Rent to Own Properties
It is my understanding that FHA will only allow rent credits above market rents. We have companies offering 50-100% rent credits how can that be done legitimately?
David Wolf
Why Every Wholesaler Needs Transactional Funding In Their Toolbox
If you don't already know, transactional funding is a type of funding used by wholesalers to complete double closes if you don't have enough cash laying around to buy and sell a property in the same day. Most wholesal...
Patricia Mclean
Attorney will only do part of the transaction
Hi BP I live in Georgia and I am in the middle of deal I put under contract subject to with the seller who is in then process of a loan modification and I am selling it with a lease option with the buyer that I have u...
Ana G.
Sticky Situation with Wholesaler on My Property
This is a bit of a sticky situation that I need help with. Sorry for the long post:
On April 6, I got a property under contract. A couple of hours later, I sold the contract to an "investor" (who I lowered my sale pr...
Jim Sharp
Referral Fee Etiquette
I've a sense for what people expect as far as referral fees go. I'm just wondering what other people's thoughts are.
Lease Option - I pay 20% of down payment up to $1,000 for a tenant buyer
If I have a lead I send ...
Makan A Tabrizi
New (ish) Colorado law Lowering Income Requirement
Colorado limited income qualification to 2X rent recently. Does anyone have a strategy to protect against less-than-qualified tenants getting approved? I used to charge the equivalent of one monthly deposit for qualif...